Medtronic plc (NYSE:MDT) Stake Boosted by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. raised its position in shares of Medtronic plc (NYSE:MDT) by 23.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,159,191 shares of the medical technology company’s stock after acquiring an additional 220,556 shares during the period. Medtronic accounts for 2.2% of Lazard Freres Gestion S.A.S.’s investment portfolio, making the stock its 16th biggest position. Lazard Freres Gestion S.A.S.’s holdings in Medtronic were worth $104,361,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MDT. Pzena Investment Management LLC increased its stake in Medtronic by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after buying an additional 275,870 shares during the period. Dimensional Fund Advisors LP raised its holdings in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock valued at $560,494,000 after buying an additional 515,751 shares in the last quarter. Raymond James & Associates raised its stake in shares of Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock valued at $575,460,000 after acquiring an additional 145,504 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Medtronic by 11.5% in the third quarter. Fisher Asset Management LLC now owns 5,893,720 shares of the medical technology company’s stock valued at $530,612,000 after purchasing an additional 609,391 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in Medtronic by 26.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,915,609 shares of the medical technology company’s stock worth $386,908,000 after acquiring an additional 1,041,863 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Piper Sandler raised their price target on shares of Medtronic from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday. Oppenheimer increased their price target on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 21st. Finally, Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of “Hold” and a consensus target price of $95.27.

Medtronic Trading Up 0.4 %

NYSE:MDT traded up $0.31 during mid-day trading on Tuesday, hitting $86.06. The company had a trading volume of 119,967 shares, compared to its average volume of 6,264,895. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. Medtronic plc has a fifty-two week low of $75.96 and a fifty-two week high of $92.68. The firm has a market cap of $110.37 billion, a P/E ratio of 26.22, a P/E/G ratio of 2.44 and a beta of 0.84. The business’s fifty day moving average is $88.91 and its two-hundred day moving average is $84.93.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. As a group, research analysts expect that Medtronic plc will post 5.46 earnings per share for the current year.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.